Rezolute (NASDAQ:RZLT) Given “Market Outperform” Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Rezolute (NASDAQ:RZLT) in a research report sent to investors on Friday morning, Benzinga reports. JMP Securities currently has a $7.00 target price on the stock.

RZLT has been the subject of several other research reports. Guggenheim initiated coverage on Rezolute in a research note on Tuesday, August 27th. They issued a buy rating and a $11.00 price target for the company. Maxim Group upped their target price on Rezolute from $8.00 to $10.00 and gave the company a buy rating in a research report on Tuesday, August 6th. Craig Hallum initiated coverage on Rezolute in a report on Tuesday, June 4th. They issued a buy rating and a $14.00 price target on the stock. HC Wainwright restated a buy rating and issued a $14.00 target price on shares of Rezolute in a report on Monday, September 9th. Finally, BTIG Research raised their target price on Rezolute from $13.00 to $15.00 and gave the company a buy rating in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of Buy and an average target price of $11.57.

Rezolute Price Performance

NASDAQ:RZLT opened at $4.79 on Friday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The stock has a market capitalization of $192.25 million, a PE ratio of -4.20 and a beta of 1.18. The business’s 50-day simple moving average is $4.62 and its 200-day simple moving average is $3.76.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). On average, research analysts expect that Rezolute will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RZLT. Virtu Financial LLC purchased a new stake in Rezolute in the 1st quarter worth approximately $37,000. Jeppson Wealth Management LLC purchased a new position in shares of Rezolute in the 2nd quarter worth approximately $45,000. XTX Topco Ltd boosted its holdings in shares of Rezolute by 205.8% in the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after purchasing an additional 22,660 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Rezolute in the 1st quarter worth approximately $229,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Rezolute by 366.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after acquiring an additional 42,597 shares during the period. 82.97% of the stock is owned by institutional investors.

About Rezolute

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder.